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Form 60

Form 60

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Instructions and help about Form 60

CONCEPT OF THAT. MANY STATES ARE CUTTING INCOME TAX RATES AND MORE ARE CONSIDERING ADDITIONAL CUTS. SOME WARN THAT A FED INDUCED ECONOMIC SLOWDOWN COULD HAVE SOME VERY EXPENSIVE RAMIFICATIONS. AND OUR MAN ROBERT FRANK LOOKING INTO ALL THIS, JOINS US NOW WITH MORE HEY, ROBERT. >> YEAH, THAT'S JUST BECAUSE YOU LIVE IN THE WRONG STATE, BECAUSE IN MOST OF THE COUNTRY IT HAS BEEN TAX CUT FEVER IN STATE CAPITALS 43 STATES HAVE PROVIDED TAX RELIEF OVER THE PAST TWO YEARS THAT HAS PUT TENS OF BILLIONS OF DOLLARS OF EXTRA SPENDING MONEY IN THE POCKETS OF CONSUMERS. NOW THE QUESTION IS WHAT HAPPENS WHEN MANY OF THOSE TAX CHECKS START TO RUN OUT OF THOSE 43 STATES, 21 HAVE ACTUALLY CUT THEIR INCOME TAX RATES. IOWA ONE OF THE BIGGEST CUTTING ITS RATE FROM 8.5 TO A FLAT TAX OF 3.9%. GEORGIA, TOP RATE OF 5.75% TO 5.99% FLAT TAX A DOZEN STATES ARE CONSIDERING TAX CUTS THIS YEAR CONNECTICUT GOVERNOR NED LAMONT PUSHING THE STATE'S BIGGEST TAX CUT EVER, $600 MILLION PACKAGE THAT WOULD CUT

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